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In accordance with para. 3, Art. 42 of Federal Law "On Joint-Stock Companies" # 208-FZ of 26.12.1995 the decision on payment (declaration) of dividends is made by the General Shareholders’ Meeting. The given decision shall define dividend amount for shares of each category (type), form of payment, procedure of payment of dividends in kind, the date on which persons entitled to receive dividends are recorded. Along with it, the decision in terms of setting the date on which persons entitled to receive dividends are recorded shall be made by the Board of Directors (Supervisory Board) of the company.
According to para. 5, Art. 42 of Federal Law "On Joint-Stock Companies" № 208-FZ of 26.12.1995, the date on which in accordance with the decision on payment (declaration) of dividends persons entitled to receive them are determined, cannot be earlier than 10 days from the date of the decision on payment (declaration) of dividends, and later than 20 days from the date of the decision.
In accordance with para. 6, Art. 42 of Federal Law "On Joint-Stock Companies" № 208-FZ of 26.12.1995, the term of payment of dividends by the Company to a nominal holder and being a professional participant of the securities trustee, who are registered in the register of shareholders, shall not exceed 10 working days, and other persons registered in the registry of shareholders - 25 working days from the date on which the persons entitled to receive dividends are recorded.
In the case of the mandatory centralized custody:
According to para. 3 and para. 4, Art 7.1 of Federal Law "On the Securities Market" № 39-FZ of 22.04.1996, the depositary providing mandatory centralized custody of securities shall transfer payments on securities to their depositors, who are nominal holders and trustees - professional participants of the securities market, not later than one working day after the date of their receipt, and in case of transfer of the final payment on securities, the obligation to implement the prescribed period in which the issuer has not performed or performed improperly, not later than three working days after the date of their receipt. Dividends on securities to other depositors are transferred no later than seven working days after the date of their receipt.
The depositary, recording the rights to securities, is obliged to transfer payments on securities to their depositors, who are nominal holders and trustees - professional participants of the securities market, no later than the next working day after their receipt, and to other depositors no later than seven working days after the date of receipt of the corresponding payments and no later than 15 working days after the date on which the depositary, performing mandatory centralized custody, in accordance with subparagraph 2 of paragraph 7 of Article 7.1. of the Federal Law "On securities market" disclosed the transfer of due payments to its depositors on securities.
In the case of storage of securities in the depository registered as a nominee or trustee for the shares in the register of shareholder:
According to para. 3, Art 8.7 of Federal Law "On the Securities Market" № 39-FZ of 22.04.1996, the depository shall transfer payments on securities by transferring the funds to a bank account, specified by the depositary contract, to its depositors, who are nominal holders and trustees - professional participants of the securities market, no later than the next working day after their receipt and payment of securities to other depositors - no later than seven working days after their receipt.
According to para. 8, Art 42 of Federal Law "On Joint-Stock Companies" № 208-FZ of 26.12.1995, a nominee, who has been transferred dividends to and who has not fulfilled the obligation to transfer them, set by the legislation of the Russian Federation on securities, for reasons beyond his control, is obliged to return them to the company within 10 days after the expiration of one month from the end date of the payment of dividends.
The Board of Directors of the Company approved the "Regulations on Dividend Policy", which define the basic provisions of payment of the Company’s dividends. The text of the regulations can be found on the company’s website at http://www.mrsk-1.ru/investors/dividend/
The amount of dividends on shares of IDGC of Centre, PJSC is calculated from the amount of net profit as reported in financial statements in accordance with Russian standards.
Proposals for the amount of dividend are put by the Board of Directors for consideration at the General Meeting of Shareholders, which makes the final decision on dividend payment. The amount of the dividend approved by the Meeting may not exceed the amount recommended by the Board of Directors.
No. In accordance with clause 1 of Article 42 of Federal Law "On Joint-Stock Companies» # 208-FZ of 26.12.1995 dividends are paid out in cash, and in cases stipulated by the Articles of Association company, - with other assets. The Articles of Association of IDGC of Centre do not provide for payment of dividends in another form, which means that the payment of dividends by the Company may not be different than with monetary assets.
The most common cause of non-payment of dividends is a failure of shareholders to provide information to the registrar of IDGC of Centre, PJSC or to the depositary, in which their depot account is opened, about changes in their data (e.g., place of residence, or bank details). According to para. 16, Art. 8.2 of Federal Law of 22.04.1996 № 39-FZ "On the Securities Market", in case the person, whom a personal account (depo account) has been opened, did not provide information about changes in their details, the issuer (person who has obligations under securities), the holder of the register of owners of securities and the depositary shall not be liable for any damage to such person in connection with the failure to provide information.
Therefore, in case of change of data, it is necessary for persons, who have opened an account in the shareholders' register, for the timely receipt of dividends to provide a new registration form to the registrar of the Company Reestr-RN Ltd. Persons, who have opened depot accounts with the depository, in this case should contact the depositary and to issue a new form of the depositor.
According to para. 5, Art. 42 of Federal Law "On Joint-Stock Companies" № 208-FZ of 26.12.1995, the date on which in accordance with the decision on payment (declaration) of dividends persons entitled to receive them are determined, cannot be earlier than 10 days from the date of the decision on payment (declaration) of dividends, and later than 20 days from the date of the decision.
You will get dividends if on the above date you are a holder of shares of the Company.
For dividends payable shareholders should contact the Company with an appropriate application (claim) according to para. 9, Art 42 of Federal Law "On Joint-Stock Companies" № 208-FZ of 26.12.1995. Individual shareholders should attach a copy of the identity document to this application. In the case shareholders reside at the location of the Company's branches, the application should be sent to contact persons of the branches, whose information is available on the Company's website at the following address: http://www. mrsk-1.ru/investors/contacts/. All other shareholders should send the application for payment of arrears on dividends to the following address: 2nd Yamskaya, 4, Moscow, Russia, 127018, attention: IR-Division.
Contact person:
Marina Viktorovna Gorina — Chief Specialist of IR Division
Phone: +7 (4722) 58-15-39
E-mail: Gorina.MV@mrsk-1.ru
Claim sample (doc, 32Kb)
In order to change the form of payment of dividends, please refer to the Company's registrar (Reestr-RN Ltd) and update information in the registration form, indicating your bank account details for bank transfer. Individuals, who have opened depot accounts with the depository, should contact the depositary and update the information in the questionnaire of the depositor.
It is recommended to clarify details for bank transfer of dividends with the bank in which your personal account is open, including: